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Limbach Holdings, Inc. (symbol: LMB) is a prominent integrated building systems provider headquartered in Pittsburgh, PA. Established with an estimated revenue of approximately $400 million in 2016, the company specializes in managing all components of mechanical, electrical, plumbing, and control systems. Limbach's core services encompass system design, construction, performance, and maintenance for both new and existing buildings.
Operating through 10 strategically located business units across the United States, Limbach serves a diverse customer base, including private building owners, not-for-profit organizations, and public/government sectors. Their locations span from Western and Eastern Pennsylvania, New Jersey, New England, Ohio, Michigan, Southern California, to the Mid-Atlantic region.
Limbach's expertise includes engineering, constructing, and servicing critical building systems such as mechanical, plumbing, air conditioning, heating, building automation, electrical and control systems. The company operates in two primary segments: General Contractor Relationships (GCR) and Owner Direct Relationships (ODR), with the latter generating the maximum revenue for the company.
Noteworthy recent achievements include various successful projects, partnerships, and advancements in energy retrofit solutions and equipment upgrades. This positions Limbach as a leader in the commercial specialty contracting field, ensuring sustainable and efficient building system solutions for their clients.
Limbach Holdings reported a strong performance for the year ended December 31, 2022, with consolidated revenue of $496.8 million, an increase of 1.3% from 2021. The Owner Direct Relationships (ODR) segment revenue surged by 63.7% to $216.4 million, contributing approximately 58.8% of consolidated gross profit. Net income for the year was $6.8 million with diluted EPS of $0.64. Adjusted EBITDA increased 36.5% to $31.8 million. Despite a decline in GCR segment revenue, Limbach plans to continue enhancing its customer-focused platform while maintaining a healthy balance sheet with $36.0 million in cash.
Limbach Holdings (NASDAQ: LMB) will announce its Q4 2022 financial results on
Limbach Holdings, Inc. (NASDAQ: LMB) has announced the promotion of three senior management professionals to enhance its Owner-Direct Business. Jay Sharp has been appointed President of Limbach Company LLC, Limbach Company LP, and Jake Marshall LLC, bringing over 32 years of experience. Nick Angerosa remains President of Harper Limbach LLC and will also join the Senior Management Team. Melissa DiMuro is the new Chief People, Culture, and Marketing Officer, overseeing human capital strategy and branding. CEO Charlie Bacon emphasized the importance of employee growth within the company. Limbach specializes in integrated building systems solutions across various markets.
Limbach Holdings, Inc. announced that
Limbach Holdings, Inc. (Nasdaq: LMB) reported Q3 2022 financial results showing consolidated revenue of $122.4 million, a 5.3% decrease from Q3 2021. The Owner Direct Relationships (ODR) segment revenue surged 52.2%, constituting 48.8% of total revenue. Gross margin improved to 20.3%, compared to 18.9% in the previous year, with adjusted EBITDA rising 25.7% to $10.2 million. Despite a decline in net income to $3.6 million, the company remains optimistic about meeting its tightened revenue and increased EBITDA guidance for 2022.
Limbach Holdings, Inc. (NASDAQ: LMB) will announce its third quarter 2022 financial results after the market closes on
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